Torrid (NYSE:CURV) Trading Down 6% – What’s Next?

Torrid Holdings Inc. (NYSE:CURV)’s share price dropped 6% during mid-day trading on Monday . The stock traded as low as $6.54 and last traded at $6.64. Approximately 282,795 shares changed hands during trading, a decline of 3% from the average daily volume of 292,083 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

CURV has been the topic of several research reports. Bank of America initiated coverage on shares of Torrid in a report on Friday, December 6th. They issued a “buy” rating and a $5.00 price objective on the stock. The Goldman Sachs Group decreased their price target on shares of Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Telsey Advisory Group lowered their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley boosted their price objective on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Torrid presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Torrid Trading Down 6.3 %

The business has a 50-day moving average of $5.21 and a two-hundred day moving average of $5.27. The firm has a market cap of $693.09 million, a P/E ratio of 44.11, a price-to-earnings-growth ratio of 2.07 and a beta of 1.96.

Torrid (NYSE:CURV) last released its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. As a group, equities analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP bought a new position in shares of Torrid in the 3rd quarter worth $3,930,000. Geode Capital Management LLC grew its holdings in shares of Torrid by 11.4% during the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after buying an additional 26,703 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Torrid by 87.3% during the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after acquiring an additional 50,439 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after acquiring an additional 6,968 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Torrid in the 3rd quarter valued at about $166,000. 81.82% of the stock is owned by institutional investors and hedge funds.

Torrid Company Profile

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.